Delhi metro and its influence on real estate

Delhi Metro Railways, generally referred to as “Metro” was launched in the year 2002 to fulfill the demand of traffic congestion in the city. Metro although being conceptualized as a social profit compared to being an economic one, has clad to be vastly to blame for the economic process of the region and therefore the town especially. Over the last 5-7 years, the land costs round the Metro railway areas have raised as developers flocked in to speculate in those areas, and patrons notice it a profitable possibility due to easy accessibility and development in those areas. 

Delhi Metro influence on real estate

Metro has a direct influence on the real estate business in NCR. Within the time of the land boom, localities wherever metro is operational (or close to start), tend to appreciate better that different localities. These localities are conjointly expertise a lower cost correction throughout the slowdown period. Major infrastructure projects are launched keeping proximity to Metro as the sole deciding factor. The “Metro Walk mall” close to Rithala station and “Delhi Hatt” at Kohat district are cases in point. Retail shopping areas have conjointly come back up at Netaji Subhash Place and Indralok stations. This is often simply the beginning and one would see metro become the attentiveness for major infrastructure projects in the town.

Ever since metro’s enlargement plans for NCR was declared, folks that were earlier unwilling to maneuver out of the city have started staring at NCR as a viable living possibility. The comfort of an air-conditioned, pollution free ride and therefore the associated time & price advantage are the main factor behind this alteration in heart.

Today, proximity to metro has become one in all the foremost necessary decisive factors for a property seeker. One can see this impact within the real estate prices, for instance localities like Dilshand Garden, Sastri Nagar, Mansarover, Indralok, Rohini, Pitam Pura, & Rithala wherever the metro has been useful, saw an appreciation of 18% – 40% per annum in capital values from 2008 - mid 2012. These areas were conjointly comparatively unaffected throughout the slowdown from August 2008 forwards. A similar trend is visible in Uttam Nagar, Dwarka, Janakpuri, Tilak Nagar, Vikaspuri, Patel Nagar, Subhash Nagar and Karol Bagh.

With metro extending its wings to Noida, Ghaziabad, Gurgaon, and Faridabad, property seekers would be suggested to stay this at the middle stage of their property buying method. If past data is cipher, the areas within 1 km radius of metro ought to step up upwards of 15% compared to different areas within the neighborhood. This positive impact would be felt in localities on all the metro routes.

Tags : Delhi Metro's influence on Indian real estate market, impact on property prices because of metro,Cosmic Structures ,Cosmic Projects